sebi:ORDER/BM/LD/2022-23/17931

SEBI · SEBI · 2019-09-04 · Barnali Mukherjee, Adjudicating Officer

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Facts / Headnote

Noticee held liable and total penalty of Rs.20,00,000 imposed

Provisions invoked

Regulations

Parties

Holding

The Noticee violated Section 11C(3) of the SEBI Act by failing to comply with summonses and violated Clause 35 of the Listing Agreement r/w Regulation 103 of LODR Regulations r/w Section 21 of SCRA by mis-disclosure and non-disclosure of shareholding, and penalty of Rs.10,00,000 under Section 15A(a) and Rs.10,00,000 under Section 23E, total Rs.20,00,000, was imposed.

Full text

Adjudication Proceedings in respect of Allied Computers International Page 2 of 16 (Asia) Limited 3. Investigation further observed that the shareholding of Shri Hirji Kanji Patel the Managing Director and promoter of Noticee had undergone change which required disclosures under Regulation 7(1A) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 (hereinafter referred to as “SAST Regulations, 1997”) r/w Regulation 29 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (hereinafter referred to as “SAST Regulations, 2011”) and Regulation 13(4) r/w 13(5) of SEBI (Prohibition of Insider Trading) Regulations, 1992 (hereinafter referred to as “PIT Regulations, 1992”) r/w Regulation 12 of the SEBI (Prohibition of Insider Trading) Regulations, 2015. In this regard summons dated September 04, 2019 was issued to Noticee seeking information on the change in shareholding of Shri Hirji Kanji Patel.

Adjudication Proceedings in respect of Allied Computers International Page 3 of 16 (Asia) Limited SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING

Adjudication Proceedings in respect of Allied Computers International Page 4 of 16 (Asia) Limited ISSUES FOR CONSIDERATION, EVIDENCE AND FINDINGS

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Source: SecMarx — sebi:ORDER/BM/LD/2022-23/17931. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.